Company Valuation: NetApp, Inc.

Data adjusted to current consolidation scope
Fiscal Period: April 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 16,915 13,540 20,650 17,935 21,452 38,679 - -
Change - -19.95% 52.51% -13.15% 19.61% 80.31% - -
Enterprise Value (EV) 1 15,417 12,859 19,790 17,324 20,355 37,147 36,330 35,924
Change - -16.59% 53.9% -12.46% 17.5% 82.5% -2.2% -1.12%
P/E 18.6x 10.9x 21.6x 15.6x 17.1x 25.4x 22.4x 21.2x
PBR 20.1x 12x 18.2x 17.3x 16x 19.8x 14.3x 10.7x
PEG - 0.3x -1.1x 0.7x 1.4x 1.1x 1.6x 3.79x
Capitalization / Revenue 2.68x 2.13x 3.29x 2.73x 3.1x 4.73x 4.47x 4.23x
EV / Revenue 2.44x 2.02x 3.16x 2.64x 2.94x 4.54x 4.2x 3.93x
EV / EBITDA 9.3x 7.2x 10.2x 8.23x 8.9x 13.7x 12.5x 11.5x
EV / EBIT 10.3x 8.36x 11.8x 9.3x 9.75x 14.7x 13.1x 12x
EV / FCF 15.7x 14.8x 12.9x 12.9x 10.9x 21.1x 16.8x 15.1x
FCF Yield 6.39% 6.75% 7.73% 7.72% 9.18% 4.74% 5.95% 6.61%
Dividend per Share 2 2 2 2 2.08 2.08 2.1 2.18 2.304
Rate of return 2.63% 3.16% 2% 2.36% 1.91% 1.06% 1.1% 1.16%
EPS 2 4.09 5.79 4.63 5.67 6.35 7.788 8.847 9.343
Distribution rate 48.9% 34.5% 43.2% 36.7% 32.8% 27% 24.6% 24.7%
Net sales 1 6,318 6,362 6,268 6,572 6,925 8,179 8,653 9,147
EBITDA 1 1,657 1,787 1,937 2,105 2,288 2,703 2,898 3,134
EBIT 1 1,496 1,539 1,682 1,862 2,088 2,527 2,769 3,005
Net income 1 937 1,274 986 1,186 1,276 1,538 1,721 1,782
Net Debt 1 -1,498 -681 -860 -611 -1,097 -1,531 -2,349 -2,754
Reference price 2 76.01 63.30 100.06 88.17 108.71 197.79 197.79 197.79
Nbr of stocks (in thousands) 222,536 213,905 206,377 203,412 197,330 196,419 - -
Announcement Date 6/1/22 A 5/31/23 A 5/30/24 A 5/29/25 A 5/28/26 A - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
7.39x4.12x5.11x-.--% 236B
21.76x7.75x14.97x0.14% 153B
25.28x4.54x13.74x1.07% 38.68B
107.27x6.55x28.87x-.--% 34.65B
9.88x - - - 11.48B
3.57x1.25x2.44x15.87% 3.88B
Average 29.19x 4.84x 13.03x 3.42% 79.65B
Weighted average by Cap. 20.71x 5.50x 10.80x 0.27%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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